Traders Sell Shares of Apple (AAPL) on Strength on Analyst Downgrade
Traders sold shares of Apple Inc. (NASDAQ:AAPL) on strength during trading hours on Wednesday after DA Davidson lowered their price target on the stock to $245.00. $698.52 million flowed into the stock on the tick-up and $985.07 million flowed out of the stock on the tick-down, for a money net flow of $286.55 million out of the stock. Of all stocks tracked, Apple had the 0th highest net out-flow for the day. Apple traded up $0.62 for the day and closed at $153.92
AAPL has been the topic of a number of other research reports. Canaccord Genuity reiterated a “buy” rating on shares of Apple in a research report on Friday, January 18th. Royal Bank of Canada reiterated a “buy” rating and issued a $185.00 price target on shares of Apple in a research report on Friday, January 18th. UBS Group reiterated a “buy” rating and issued a $180.00 price target on shares of Apple in a research report on Monday, January 14th. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $228.00 price target on shares of Apple in a research report on Friday, January 11th. Finally, HSBC lowered Apple from a “buy” rating to a “hold” rating and reduced their price target for the company from $200.00 to $160.00 in a research report on Wednesday, January 9th. Three research analysts have rated the stock with a sell rating, twenty-four have given a hold rating and twenty-two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $195.33.
In related news, insider Chris Kondo sold 3,408 shares of the company’s stock in a transaction dated Monday, November 19th. The stock was sold at an average price of $190.00, for a total transaction of $647,520.00. Following the sale, the insider now owns 8,940 shares in the company, valued at approximately $1,698,600. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.05% of the stock is owned by corporate insiders.
The firm has a market capitalization of $770.79 billion, a PE ratio of 12.92, a P/E/G ratio of 1.50 and a beta of 1.23. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.12 and a quick ratio of 1.09.
Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, November 1st. The iPhone maker reported $2.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.78 by $0.13. The business had revenue of $62.90 billion for the quarter, compared to analyst estimates of $61.55 billion. Apple had a return on equity of 48.68% and a net margin of 22.41%. The company’s quarterly revenue was up 19.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.07 earnings per share. Equities analysts expect that Apple Inc. will post 12.02 earnings per share for the current fiscal year.
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Apple Company Profile (NASDAQ:AAPL)
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.
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